Marked gain by London market
The London sharemarket was markedly firmer on Friday, and the ' “Financial Times’’ index rose 9.4 points to close at 529.3 compared with the previous day. This gave the index a net loss on the week of 9.4 points. The market opened the week on a quiet note on Monday. Share prices began on a firm note in response to favourable United Kingdom press comment and Friday's gains on Wall Street, but the initial momentum was not maintained. The market closed lower in quiet trading on Tuesday reflecting the unexpected rise in weekly United States money supply and firmer domestic money market rates which might rule out an early cut in base rates, dealers said Government bonds ended With net falls ranging more than half a point ahead of an expected statement from the Chancellor of the Exchequer (Sir Geoffrey Howe) on public expenditure.
On Wednesday, share prices closed mixed in quiet trading as the market awaited details of the Chancellor of Exchequer’s economic statement. Share prices closed lower in moderate trading on Thursday following results, which were below market expectations, from leading issues, BP and GEC, dealers said. The trend was fuelled by market disappointment that cuts in base rate from 15 per
cent to 14.5 per cent by the major U.K. banks, failed to spark a rally. Closing prices on Friday of a selection of shares were:Ampol. 10214; ANZ Bank. 329*2: BNSW. 181>4; BHP. 645: Dalgety. 288 I 'z; Elder Smith. 250: Fiet Chall. 78; Nth B H, 160‘z; Plessey, 334 l 'z; Renison. 275; RTZ ord, 470 and regd. 466*4; Trans Dev. 69: WMC, 257*4; BAT, 346; Distillers, 188; Glaxo, 420; ICI. 294; Lloyds, 443; Marks and Spencer, 127; P and 0,121; Prudential A. 233; Reed, Int, 250; Shell Trans, 402; Unilever, 608; War Loan. 27-H; De Beers. 698.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19811207.2.85.9
Bibliographic details
Press, 7 December 1981, Page 16
Word Count
306Marked gain by London market Press, 7 December 1981, Page 16
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.